Cons
Even with gambling legal in Pennsylvania, bookies didn¡¯t disappear. For instance, ¡°the Accountant¡± has been taking bets for nearly 15 years in Philadelphia. A registered ER nurse by day, he inherited the book from a friend who owned a bar and reports that he has ¡°about 100 customers¡± during football season and 25 in the months after that. His client base was cut in half when Pennsylvania legalized sports gambling, but ¡°we got 50 percent of them back,¡± he reports.

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Sports Betting Revenue: Revenue for sports betting has been climbing. For the first half of 2022 revenue totaled just over $3 billion compared to $4.3 billion for all of last year. Morgan Stanley forecasts revenue to reach $7 billion by 2025. Also, in 2021 Americans bet $57.2 billion on sporting events, a year-over-year increase of 165%.

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